Seoul, July 26, 2004
hynix Semiconductor Inc. (‘hynix’ or ‘the Company’) today announced the earnings results for its second quarter of 2004, ended June 30, 2004.
The Company recorded the consolidated revenues which include the results of overseas subsidiaries of 1,698 billion won with 681 billion won of operating profit for the second quarter.
The consolidated net income was 620 billion won. hynix explained the Company achieved the highest quarterly profit since its formation in 1983, and emphasized that it reported operating profit for a fourth straight quarter since the third quarter of last year.
The consolidated revenues increased 26% sequentially from 1,350 billion won in the previous quarter. The consolidated operating profit and net income increased by 79% and 62% from 380 billion won and 382 billion won, respectively.
Memory sales increased due to higher production volume, increased sales portion of the value added products, and growth in sales of Flash memory products. Favorable market conditions for foundry and the increase in demand for CIS (CMOS Image Sensors) and LDI (LCD Driver ICs) also attributed to the growth of System IC sales. In addition, net income has been significantly improved as the Company maintained non-operating expenses at a low level, and enhanced cost competitiveness through continuous improvement in productivity and investment efficiency.
In parent basis, revenues for the second quarter increased by 30% to 1,684 billion won from 1,297 billion won in the previous quarter and the operating profit increased by 123% to 648 billion won from 291 billion won. Net income increased by 78% to 625 billion won from 351 billion won.
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Please note that the financial results discussed herein are preliminary and speak only as of June 30, 2004. Readers should not assume that this information remains operative at a later time. In addition, this information may include forward-looking statements that involve a variety of risks and uncertainties that could cause actual results to differ materially.
